Average wage down 7.6% in 1 year to NIS 7,075
Wages fell in every sector, except for the Israel Electric
Corporation and the Mekorot National Water Company, where
wages averaged NIS 15,778.
Zeev Klein
6 Apr 03
Globes
Figures published today by the Central Bureau of Statistics
show that real wages are still falling, spurred by the deepening
recession and rising unemployment. The average gross wage fell
to only NIS 7,075 in January 2003, following a cumulative 7.6%
slide in 2002. Trend data indicate that wages continued to
drop by an annualized 3% in December 2002-January 2003.
The Central Bureau of Statistics figures show that salaries
have fallen in all economic sectors since the beginning of
2002, except for the electricity and water industries.
The steepest decline was in the financial, insurance, and
banking sector, where wages were down 9.3%. Sharp falls were
also posted in hosting services and food 8.4%, public
administration 4.2%, construction 3.1%, and agriculture 2.6%.
Salaries in the electricity and water sectors rose 2.2% in
real terms in 2002.
Israel Electric Corporation and Mekorot National Water Company
workers earned the highest wages in Israel NIS 15,778 per
month, 2.2 times the nationwide average.
Banking, insurance, and financial employees remained in second
place on the salary scale, averaging NIS 11,784. Despite a
9.3% loss in real terms, their pay was still 67% higher than
the nationwide average. The fall in salaries in this sector
from December 2002 to January 2003 was even sharper at
12%, amounting to NIS 1,625.
Civil service employees climbed to third place in the national
wage table, despite the 4.2% decrease in their pay since
the beginning of 2002. The civil service averaged NIS 11,162
in January 2003, 58% more than the nationwide average, after
growing 14% from December 2002 to January 2003, amounting
to a NIS 1,376 pay raise.
The lowest wages in January 2003 were in the hosting and
food service sector only NIS 3,512, half the nationwide average.
Pay was also a low NIS 4,434 in agriculture, 37% less than
the nationwide average. Construction workers earned an average
of only NIS 6,061, 15% less than the nationwide average.
Published by Globes [online] - www.globes.co.il